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MAMBA EXPLORATION LIMITED — Capital/Financing Update 2025
Feb 18, 2025
65279_rns_2025-02-18_3491977f-01a7-40e1-8cc0-6067518013f6.pdf
Capital/Financing Update
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ASX Announcement
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19 February 2025
Share Placement
Mamba Exploration Limited (ASX:M24) (“ M24 ” or the “ Company ") is pleased to announce it has received firm commitments from professional and sophisticated investors for a Placement to raise $265,000 (before costs) (" Placement ") by way of a placement of fully paid ordinary shares (" New Shares ").
The Placement comprises the issue of 22.083 million New Shares at an issue price of $0.012 per New Share, which will be issued utilising the Company’s existing placement capacity under ASX Listing Rule 7.1.
The Placement issue price of $0.012 represents a 14.29% discount to the Company’s last closing price of $0.014 on 17 February 2025. All New Shares issued under the Placement will rank equally in all respects with the Company’s existing shares on issue.
Use of Funds:
The funds raised will be used to:
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Reviewing the Company’s Western Australian exploration projects;
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Assessing new opportunities; and
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Strengthening working capital.
Executive Director Commentary:
Simon Andrew, Executive Director of Mamba Exploration Limited, commented:
"In the current uncertain market environment, the Board remains diligent in managing the Company's cash reserves to ensure we are well-positioned to advance our key projects and review opportunities. The funds raised will provide flexibility as we continue to assess new opportunities while maintaining a disciplined approach to capital allocation.”
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This announcement has been authorised for release by the board.
For more information, please visit our website, or contact:
Mr Simon Andrew Executive Director [email protected]
Amanda Burgess Company Secretary [email protected]
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Mamba Exploration Limited ABN 75 644 571 826 25 Richardson St, West Perth WA 6005[|] PO Box 4, West Perth WA 6872 ASX:M24 +61 8 9557 6616[|] [email protected][|] www.mambaexploration.com.au[|] Page 1 of 1